For years, women have struggled to reach the top. Those who succeeded became pioneers themselves.
Take for example Dominique Senequier, CEO of private equity giant Ardian, who was among the first women to be admitted to her university, the École Polytechnique. Allison Kirkby of telecommunications company BT became the first female chief executive in the company’s 178-year history last month.
Analyzing Europe’s most powerful and influential women for International Women’s Day, we found a common thread: the wealth of experiences they bring with them.
We discovered about 35%. Fortune 500 female CEOs in Europe and half of European women onwards FortuneThe list of the most powerful women in is 55 years and older. From that group we found accomplished experts across industries, from commodities to financial services and pharmaceuticals, who have spent several decades in the corporate world.
To recognize their considerable achievements on International Women’s Day, Fortune has curated a hand-picked selection of female leaders at the helm of European companies, aged 55 and over. We drew on our top lists:Fortune 500 Europe and Most Powerful Women, while also keeping an eye on other emerging leaders.
This inaugural list will be the first of many, highlighting the greatest women entrepreneurs in continental Europe and, arguably, the world. While the list is not exhaustive, it sheds light on how women leaders are disrupting the world today.
However you look at it, the number of female CEOs in Europe is unacceptably low. When Fortune launched its debut list of the top 500 European companies by revenue last year, we found that just 7% were run by women. This is a tiny fraction and reveals how much work we still have ahead of us.
There’s an obvious business reason for doing so: female-led companies have shown higher profit margins and are linked to more climate-related investment, as consultancy The Pipeline found in a study of FTSE 350 companies.
For all those on the path to becoming future leaders, Bianca Tetteroo, chair of the executive board of Achmea, based in the Netherlands, shared the following words of wisdom: “Dare to jump into the deep end. What’s the worst thing if it doesn’t work?”.
Explore 5 featured executives along with two emerging leaders we’ve got our eyes on and the full list below.
Editor’s Note: The following list combines data from the Fortune Europe 500 and Most Powerful Women lists, captured in 2023. Revenue and other data was captured at the time the list was created and may not reflect the latest available data.
The callouts
Our team has curated a select group of European female CEOs who have paved the way for the next generation of leaders. Meet them below:
Halvor Molland/Hydro
Hilde Merete Aasheim, CEO of Norsk Hydro
Aasheim is a true all-rounder. He has led Norwegian aluminum and energy giant Norsk Hydro since 2019, guiding it through the ups and downs of pandemic demand and price volatility. Starting as an accountant, he rose through the ranks for over 35 years working in a variety of functions from human resources to senior management. Aasheim, who is now CEO and president of Hydro, has been with the company for nearly 20 years.
“The best thing you can do is take the opportunity when you have it, say yes instead of thinking about all the challenges, and look at it more as an opportunity,” Aasheim said in an interview with S&P Global last year .
Hydro ranked 173rd in the rankings Fortune Europe 500 list.
Courtesy of Merck KgA
Belén Garijo, CEO of Merck KGaA
Garijo’s journey began as a doctor in Spain. Eventually, this led her to a conference room. She is now among the few female CEOs in the giant chemicals and life sciences industry, and the first at 355-year-old Merck. She also sits on the board of directors of French beauty giant L’Oréal.
Garijo was recognized for her achievements in promoting gender diversity. Over a third of Merck’s top executives are women.
“Even today, many women in science encounter people who resist any change to the status quo. And that’s when you need to be surrounded by people who believe in you, sometimes more than you believe in yourself,” Garijo said in a LinkedIn post last month.
Merck ranked 165th Fortune 500 Europe and Garijo ranked 30th on the list of the most powerful women.
Joel Sagat—AFP/Getty Images
Dominique Senequier, CEO of Ardian
Leading one of Europe’s largest private equity firms is no mean feat.
Senequier rose to prominence when she founded the private equity arm of insurance company AXA in 1996, which eventually morphed into Ardian in 2013, and is now a sprawling 1,050-person operation.
But Senequier’s pioneering journey began much earlier, when she was one of seven to be admitted to the first women’s course at the Ecole Polytechnique in 1972.
Ardian, under the leadership of the French private equity veteran, has pledged to bring more women into this niche of finance. Last year the percentage of new female hires was 42%.
Senequier ranked 66th FortuneList of the most powerful women of 2023.
Courtesy of Vodafone
Margherita Della Valle, CEO of Vodafone
Della Valle spent most of his life, more than 30 years, at the British telecommunications giant Vodafone. In that period he worked in various roles, from marketing to finance.
She was group CFO for several years before becoming CEO in 2023.
The Italian-born economics graduate is among nine FTSE 100 companies led by women.
Since taking charge of Vodafone, he has undertaken a massive restructuring effort, reducing the number of markets in which it operates and raising slumping share prices.
“Being a woman in business today is a bit of a superpower because you bring a different voice,” she said This is money. “It’s very difficult to go around the table. But once you’re there, your voice can really be heard because you have a different perspective.”
Della Valle was ranked #36 in FortuneList of the most powerful women of 2023.
Hollie Adams—Bloomberg/Getty Images
Ana Botín, Executive President of Santander
Bank runs are in Botín’s blood.
In 2014 she succeeded her father Emilio as president of Banco Santander, one of the largest banks in Europe. Botín is the fourth generation of the family to lead the company.
Botín is, in every sense, a banking expert as she has spent her entire career working in the industry since she started working at JPMorgan in New York in 1980.
She took the bank to new heights, establishing it as a multinational giant while expanding the presence of women on the board and at senior leadership levels. Botín also serves on the board of directors of The Coca-Cola Company.
According to Botín, rotating women within different banking roles can be a useful way to elevate them and offer them the opportunity to move up the corporate ladder faster, she said CNBC last year.
Botín ranked 19th overall FortuneList of the most powerful women of 2023.
The ones to watch
Here are two leaders we believe are suited for future success:
Barbara Martin Coppola, CEO of Decathlon
Martin Coppola is a true global citizen: he has lived and worked in nine countries. Her corporate pedigree includes Google and Ikea, before taking the top job at French sporting goods retailer Decathlon in 2022. She is the family-run company’s first female CEO and first boss hired externally.
She is an expert in business development and digital expansion, two elements she hopes will push Decathlon to new heights. The retailer may be relatively young (at 47 years old) compared to the other companies highlighted above, but Decathlon is already present in 70 countries and has established itself as one of the largest sports companies globally.
In Martin Coppola’s first year as CEO, Decathlon’s sales grew 12% annually, but that’s not all: the number of women in senior leadership roles doubled.
The Decathlon CEO ranked 61st FortuneList of the most powerful women in 2023.
Debra Crew, CEO of Diageo
Crew had an important role to fill when she took over from Ivan Menezes, one of the FTSE 100’s longest-serving chief executives. In becoming boss of Diageo, Crew, 53, joined the small but powerful group of women leading FTSE companies 100.
Crew is a veteran in the food and beverage industry, having worked at Pepsi, Nestlé and others before joining the maker of Guinness. His task is daunting as the world’s largest spirits maker faces a cocktail of problems, from overstocking to collapsing demand.
Before Crew entered the corporate world, he served as a U.S. military officer.
Diageo ranked 166th in the rankings Fortune Europe 500 list.
View our full list of European female CEOs, in no particular order, below.
Ana Botin
Agency: Santander
Village: Spain
Mandate of Director and Executive President (years): 20+
Margherita Della Valle
Agency: Vodafone Group
Village: Italy
CEO tenure (years): 1+
Dominique Senequier
Agency: Ardian
Village: France
Mandate of the Founder and President (years): 20+
Allison Kirkby
Agency: BT
Village: UK
CEO tenure (years): Two months. (Formerly President and CEO of Telia Company).
Isabelle Ferrand
Agency: Crédit Mutuel Group
Village: France
CEO tenure (years): 1+
Christel Bories
Agency: Eramet
Village: France
President e CEO tenure (years): 6+
Annie J. Krist
Agency: GasTerra
Village: Holland
CEO tenure (years): 6+
Nancy McKinstry
Agency: Wolters Kluwer
Village: United States (based in the Netherlands)
Mandate of President and CEO (years): 20+
Hilde Merete Aasheim
Agency: Norwegian hydro
Village: Norway
President and CEO mandate (years): 4+
Nina Jonsson
Agency: ICA Group
Village: Sweden
CEO tenure (years): 1+
Michelle M. MacKay
Agency: Cushman and Wakefield
Village: WE
CEO tenure (years): Eight months.
Belén Garijo
Agency: Merck Group
Village: Spain
Term of office of chairman of the board of directors and managing director (years): 2+
Sophie Bellon
Agency: Sodexo
Village: France
President and CEO tenure (years): 2+
Bianca EM Tetteroo
Agency: Achmea
Village: Holland
Term of office of the President of the Executive Committee (years): 2+
Credits: This year’s list was prepared under the direction of Fortune Europe’s list director, Grethe Schepers.